Anglo Asian Mining PLC Partial transfer of loan from Amsterdam Trade Bank (0954X)
February 16 2017 - 6:32AM
UK Regulatory
TIDMAAZ
RNS Number : 0954X
Anglo Asian Mining PLC
16 February 2017
Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector:
Mining
16 February 2017
Anglo Asian Mining plc
Partial transfer of loan from Amsterdam Trade Bank N.V. to
Gazprombank (Switzerland) Ltd
Anglo Asian Mining plc ("Anglo Asian" or "Company"), the
AIM-listed gold, copper and silver producer focused in Azerbaijan,
announce the partial transfer of its loan from Amsterdam Trade Bank
N.V. ("ATB N.V.") to Gazprombank (Switzerland) Ltd ("GPBS"). Note
that all references to "$" are to United States dollars.
In October 2013, Anglo Asian entered into a loan with ATB N.V.
for $37 million for the purpose of constructing its agitation
leaching plant. The balance of the loan at 31 December 2016 was
$17.3 million. On 15 February 2017, a transaction was finalised to
transfer 50 per cent. of the balance of the loan being $8.6 million
to GPBS. The terms of the loan and security will remain unchanged
and ATB N.V. will act as agent to administer the loan on behalf of
ATB N.V. and GPBS.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
**ENDS**
For further information please visit www.angloasianmining.com or
contact:
Anglo Asian Mining Tel: +994 12 596
Reza Vaziri plc 3350
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Anglo Asian Mining Tel: +994 502 910
Bill Morgan plc 400
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Ewan Leggat SP Angel Corporate Tel: +44 (0) 20
Finance LLP 3470 0470
Nominated Adviser
and Broker
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Laura Harrison SP Angel Corporate Tel + 44 (0) 20
Finance LLP 3470 0470
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Susie Geliher St Brides Partners Tel: +44 (0) 20
Ltd 7236 1177
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Lottie Brocklehurst St Brides Partners Tel: +44 (0) 20
Ltd 7236 1177
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Notes:
Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver
producer in Central Asia with a broad portfolio of production and
exploration assets in Azerbaijan. The Company has a 1,962 square
kilometre portfolio, assembled from analysis of historic Soviet
geological data and held under a Production Sharing Agreement
modelled on the Azeri oil industry.
The Company developed Azerbaijan's first operating
gold/copper/silver mine, Gedabek, which commenced gold production
in May 2009. Gedabek is an open cast mine with a series of
interconnected pits. The Company also mines high grade ore from the
Gadir underground mine which is co-located at the Gedabek site. The
Company has a second underground mine, Gosha, which is 50
kilometres from Gedabek. Ore mined at Gosha is processed at Anglo
Asian's Gedabek plant.
Gold production for the year ended 31 December 2016 from Gedabek
totaled 65,394 ounces with 1,941 tonnes of copper also produced.
Gedabek is a polymetallic deposit and its ore has a high copper
content, and as a result the Company produces copper concentrate
from its Sulphidisation, Acidification, Recycling, and Thickening
(SART) plant. Anglo Asian also produces a copper and precious metal
concentrate from its flotation plant, which is processing tailings
from the agitation leach plant.
Anglo Asian is also actively seeking to exploit its first mover
advantage in Azerbaijan to identify additional projects, as well as
looking for other properties in order to fulfil its expansion
ambitions and become a mid-tier gold and copper metal production
company.
This information is provided by RNS
The company news service from the London Stock Exchange
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February 16, 2017 07:32 ET (12:32 GMT)